US Stocks Edge Higher; UniFirst Shares Fall After Q1 Results
U.S. stocks traded slightly higher this morning, with the Dow Jones gaining around 0.1% on Wednesday.
Following the market opening Wednesday, the Dow traded up 0.05% to 49,485.07 while the NASDAQ gained 0.20% to 23,594.64. The S&P 500 also rose, gaining, 0.12% to 6,952.97.
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Leading and Lagging Sectors
Health care shares gained by 1.4% on Wednesday.
In trading on Wednesday, materials stocks dipped by 1%.
Top Headline
Shares of UniFirst Corp (NYSE:UNF) fell around 4% on Wednesday after the company posted mixed results for the first quarter.
The company posted adjusted earnings of $1.97 per share, missing market estimates of $2.06 [er share. The company's quarterly sales came in at $621.318 million versus expectations of $615.253 million.
Equities Trading UP
- Innovative Eyewear Inc (NASDAQ:LUCY) shares shot up 57% to $1.86 after the company reported preliminary fourth-quarter sales of about $1 million, up 45% year over year.
- Shares of Ventyx Biosciences Inc (NASDAQ:VTYX) got a boost, surging 34% to $13.47 following reports that Indianapolis-based Eli Lilly & Co. (NYSE:LLY) is in advanced talks to acquire the company for more than $1 billion, according to The Wall Street Journal.
- Captivision Inc (NASDAQ:CAPT) shares were also up, gaining 34% to $0.50 after the company announced it was granted an extension to regain Nasdaq compliance.
Equities Trading DOWN
- Cohen & Company Inc (NYSE:COHN) shares dropped 16% to $25.54 after gaining 12% on Tuesday.
- Shares of Curis Inc (NASDAQ:CRIS) were down 21% to $0.79 after the company announced pricing of private placement totaling up to $80.8 million in gross proceeds.
- Ascent Solar Technologies, Inc. (NASDAQ:ASTI) was down, falling 18% to $4.32.
Commodities
In commodity news, oil traded down 0.7% to $56.72 while gold traded down 0.9% at $4,455.40.
Silver traded down 5.6% to $76.540 on Wednesday, while copper fell 2.1% to $5.9365.
Euro zone
European shares were mixed today. The eurozone's STOXX 600 slipped 0.1%, while Spain's IBEX 35 Index fell 0.2%. London's FTSE 100 declined 0.7%, Germany's DAX gained 0.8% and France's CAC 40 gained 0.1% during the session.
Asia Pacific Markets
Asian markets closed mostly lower on Wednesday, with Japan's Nikkei 225 falling 1.06%, Hong Kong's Hang Seng Index declining 0.94%, China's Shanghai Composite gaining 0.05% and India's BSE Sensex falling 0.12%.
Economics
The volume of mortgage applications in the US rose by 0.3% from the previous week during the week ending Jan. 2.
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